Global markets supported the NSE Nifty and BSE Sensex to trade higher on weekly basis.
The global, as well as Indian stock markets, traded higher on the week ended November 27. The Nifty gained 109.9 points or 0.86% and at 12968.95 levels while Sensex was up by 267.47 points or 0.61% and at 44149.72. Bank Nifty closed higher by 373.05 points or 1.28% and at 29609.05 levels.
Nifty midcap and smallcap 100 indices outperformed the benchmark indices during the week. Nifty midcap closed higher by 752.55 points or 3.96% and at 19715.1. The smallcap index jumped 391.05 points or 6.31% and ended at 6573.3 levels.
Weekly NSE Nifty top gainers and losers
| Weekly NSE Nifty Top Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| ONGC | 78.50 | 71.65 | 9.56 |
| Adani Ports | 411.55 | 375.85 | 9.50 |
| Tata Steel | 577.35 | 532.90 | 8.34 |
| Tata Motors | 180.35 | 169.10 | 6.65 |
| IndusInd Bank | 857.65 | 811.00 | 5.75 |
| Weekly NSE Nifty Top Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Bharti Airtel | 463.25 | 483.70 | 4.23 |
| HDFC | 2256.25 | 2334.80 | 3.36 |
| BPCL | 373.00 | 383.30 | 2.69 |
| HDFC Life Insur | 646.80 | 663.90 | 2.58 |
| Eicher Motors | 2534.65 | 2590.65 | 2.16 |
| Weekly NSE Nifty Midcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Dhani Service | 281.75 | 212.90 | 32.34 |
| L&T Finance Holdings | 86.85 | 71.35 | 21.72 |
| Weekly NSE Nifty Midcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| PI Industries | 2208.40 | 2432.05 | 9.20 |
| Trent | 720.30 | 759.75 | 5.19 |
| Weekly NSE Nifty Smallcap 100 Gainers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Equitas Holding | 70.30 | 52.85 | 33.02 |
| Vakrangee | 38.40 | 30.00 | 28.00 |
| Weekly NSE Nifty Smallcap 100 Losers | |||
| Company Name | LTP | Previous Close | Change (%) |
| Birla Corp | 708.85 | 748.50 | 5.30 |
| CSB Bank | 250.50 | 261.60 | 4.24 |
Indian stock markets weekly news
Indian markets started the week on a positive note with the news of an increase in foreign exchange reserves. The banking index got some momentum with the Reserve Bank’s Internal Working Group ( IWG) proposal to allow large corporates and industrial houses to promote a Bank. Market sentiments got further boosted after the Fitch rating stated that the government renewed reform agenda has the potential to accelerate the medium-term growth rate.
On Tuesday Indian markets followed the positive global markets as Astra Zeneca reported 90% effectiveness of coronavirus vaccine. Tuesday, the Nifty hits 13K for the first time as the market sentiments were positive on the effectiveness of the coronavirus vaccine news.
Indian markets have seen profit booking on Thursday and Friday due to the concerns of rising coronavirus cases worldwide and cautiousness ahead of the GDP numbers.
Global Markets weekly updates
The Astra Zeneca vaccine optimism and diminishing political uncertainty helped the US markets to close higher during the truncated week. Dow Jones hits record high touched 30K for the first time. The economic data announced during the week has disappointed and drained some gains during the week.
The European markets also rose for the fourth consecutive week due to the effectiveness of the coronavirus vaccine. However, profits were capped after the UK and Germany extended their lockdown restrictions
The Japanese stock market also rose during the holiday-shortened week, Nikkei observed holiday on 23 November. The market upside remained capped as investors were concerns about the daily increasing coronavirus cases in Japan. Chinese Stock Market also gained during the week ended 27 November after the strong economic data reported.
Conclusion:
Indian economy officially entered into recession due to second-quarter GDP contracted at 7.5% as compared to 23.9% in the first quarter. The market experts were estimated at around 10% contraction in GDP for the second quarter. Better than expected performance by the manufacturing sector helped a significant improvement in second-quarter GDP number sequentially
As the GDP number was announced post-market on Friday, Indian stock markets will react to the data on Tuesday. Monday market is closed on account of Gurunanak Jayanti. Monday is a trading holiday, traders should updates about the global markets on Monday or can follow our Daily morning market updates.
You can read key factors that will influence the market in next week’s report on Sunday.
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Happy Weekend!!
Editors Desk